Professionals

35. May an insurance intermediary based in another member state of the European Economic Area rely on its passport in order to provide financial planning advice?

While the scope of an insurance intermediary’s passport does not include financial planning, it does not exclude the provision of financial planning advice. This means that the intermediary is permitted as of right to provide financial planning through branches (not under the free provision of services), provided that such activity is not excluded in its home member state (see Article 34, § 3, of the Law of 25 April 2014).